What Is a Completion Statement?
A completion statement is the final financial breakdown prepared by your solicitor or conveyancer when buying or selling a property. It shows all the money in and out of the transaction, including deposits, fees, taxes, and the balance you need to pay or will receive on completion day.
Key Takeaways:
- A completion statement sets out every cost, credit, and balance due.
- It’s usually issued by your solicitor shortly before completion.
- It includes the purchase/sale price, deposit, mortgage funds, SDLT, fees, and final balance.
What Is a Completion Statement?
A completion statement is a formal document prepared by your solicitor that gives a full breakdown of every cost, payment, and credit involved in your property transaction. It outlines deposits, mortgage funds, taxes, legal fees, and the final balance due on completion day, ensuring both the buyer and seller know exactly where the money is going.
For buyers, it confirms exactly how much you must transfer to complete your purchase. For sellers, it shows what will be deducted, like mortgage redemption or agent fees, and the net proceeds you’ll receive. In both cases, it provides clarity and prevents last-minute surprises.
When Do You Receive a Completion Statement?
You’ll normally receive your completion statement a few days before completion day, once your solicitor or conveyancer has all the final figures confirmed. It’s sent directly to you, usually by email or post. Checking it immediately is crucial; even minor errors in deposits, fees, or taxes can delay completion if not corrected in time.
According to Today’s Conveyancer, the average time from a conveyancer’s instruction to completion reached 120 days in 2024. Underscoring how even small mistakes in your completion statement can prolong an already lengthy process.
Expert insight from Paul Gibbens, Housebuyers4u:
"From my many years in property, I always advise homeowners to check their completion statement as soon as it arrives. Even a minor error in the figures can cause delays or added stress on completion day, so spotting and correcting mistakes early is essential."
What’s Included in a Completion Statement?
A completion statement sets out every payment, deduction, and balance involved in the transaction. The exact details differ slightly depending on whether you’re buying or selling.
| Item | Buyer’s Completion Statement | Seller’s Completion Statement |
|---|---|---|
| Purchase / Sale Price | Full purchase price due | Full agreed sale price shown |
| Deposit Paid | Deducted as a credit against purchase price | Not applicable |
| Mortgage Funds | Lender advance credited towards balance | Mortgage redemption amount deducted |
| Stamp Duty (SDLT/LTT) | Payable if applicable | Not applicable |
| Legal Fees & Disbursements | Itemised (searches, Land Registry, etc.) | Itemised (conveyancing, admin, transfer fees) |
| Estate Agent Fees | Not applicable | Deducted before net proceeds released |
| Balance Due / Net Proceeds | Final amount buyer must transfer to solicitor | Net amount seller receives after deductions |
From our experience at Housebuyers4u, we know completion statements can feel overwhelming when they land just days before completion. Our legal support team has guided countless sellers through the figures from deposits to estate agent fees, so there are no last-minute surprises. With clear explanations and support, we make sure you understand exactly what you’ll receive when the sale completes.
Examples of a Completion Statement
Here’s a simplified example of what a completion statement might look like for both a buyer and a seller.
Buyer Completion Statement Example
| Item | Amount (£) |
|---|---|
| Purchase Price | 250,000 |
| Less: Deposit Paid | –25,000 |
| Less: Mortgage Advance | –200,000 |
| Plus: Stamp Duty (SDLT) | +2,500 |
| Plus: Legal Fees & Searches | +1,500 |
| Balance to Pay | 28,000 |
Seller Completion Statement Example
| Item | Amount (£) |
|---|---|
| Sale Price | 250,000 |
| Less: Mortgage Redemption | –180,000 |
| Less: Estate Agent Fees | –3,500 |
| Less: Legal Fees | –1,500 |
| Net Proceeds to Seller | 65,000 |
Is a Completion Statement Legally Binding?
A completion statement is a formal financial record, not a contract in itself. It doesn’t create any new legal obligations; instead, it sets out the final sums that must be settled for your property sale or purchase to complete. While not legally binding on its own, the balance shown must be paid on time; otherwise, completion cannot go ahead, and the transaction may fall through.
Related Read: What paperwork do I need to sell my house?
Real Data from Housebuyers4u
At Housebuyers4u, we track the common costs and deductions that appear on completion statements from real UK transactions. This data shows the typical ranges sellers and buyers face in 2024–2025.
| Item | Typical Buyer Amount (£) | Typical Seller Amount (£) |
|---|---|---|
| Legal Fees | 1,200 – 1,800 | 1,000 – 1,500 |
| Bank Transfer / Admin Fees | 30 – 60 | 30 – 60 |
| Stamp Duty (on £250k home) | 2,500 – 3,750 | n/a |
| Land Registry Fees | 200 – 350 | n/a |
| Estate Agent Fees (1–1.5%) | n/a | 2,500 – 3,750 |
| Mortgage Redemption Costs | n/a | 150,000 – 200,000+ |
| Balance / Net Proceeds | 25,000 – 35,000 | 60,000 – 80,000 |
Sell with Certainty, Skip the Stress
Completion statements can be confusing, and even small errors can cause delays on completion day.
At Housebuyers4u, we take the uncertainty out of selling by giving you a clear, guaranteed cash offer with no hidden fees and no complex breakdowns. Our process is simple, transparent, and built around your timeline, so you know exactly what you’ll walk away with.
Get your free cash offer today and complete with confidence.
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